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What happens to Unconfirmed Bitcoin Transactions
January 23, 2019
Last Updated on
You need to understand first how bitcoin Transaction worked and who confirm this transaction. Bitcoin transaction is confirmed by miners and miner get benefit from their work in return of fee.
So if you pay a high fee for the transaction then your transaction will be cleared very fast because miner will give preference to the transaction with a high fee.
Now all Low Fee Unconfirmed Bitcoin Transactions stay as it is and wait for there Turn. The common reason for Unconfirmed Bitcoin Transaction are.
Bitcoin network require Minimum 10 minutes, on average, to include the transaction in a block;
Low Bitcoin Fee, The lower the blockchain fee, the lower your transaction’s priority in the Bitcoin network. Therefore, the longer the confirmation will take;
When Bitcoin network is overloaded.
How to Confirm stuck transaction ?
If your bitcoin Transactions is unconfirmed then you need to wait for that to be confirmed. Some exchange use very low or no fee and due to this some transaction get stuck for over a week, In such you need to wait for confirmation or it will auto expire/get ‘forgotten’ and returned to the source wallet. This might take up to 14-21 days. You can also request miners to confirm your transaction,
You can find such miners in Bitcointalk forum or look for bitcoin pool website or use viabtc.com to Accelerate your Transaction. There are many other accelerator websites like coinb.in , blockchain.com/btc/pushtx , which will push your transaction
Beware from Scammers
95% of sites are either scams or just don’t work who claim that they will speed up your unconfirmed bitcoin transaction. So try to avoid such services.
How to Check your Bitcoin Transaction
If your transaction is taking a long time then you can check your transaction details by putting your transaction id or Bitcoin wallet in Bitcoin Explorer. In explorer, You can check how many blocks are confirmed and how many are pending.
Avoid Stuck transactions in the future
To avoid such situation in future always set high transaction fee for your transaction, If your wallet does not allow setting custom transaction fees, you should upgrade to a new wallet. If you are sending from the exchange then ask exchange support to set high transaction fee for quick confirmation.
Use Hardware Wallet Like Trezor or any other wallets that allow you to set custom Transaction Fee.
Check-in Explorer how many Transactions are pending, You can also check this by sending a small amount to test how fast your transaction. Based on that you can take your decision.